• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad , Jan. 19

TAJ GVK Hotels & Resorts Ltd has announced that it has embarked upon a major expansion programme involving an investment outlay of Rs 380 crore.

In a press release here, the company said it is setting up a five-star business hotel in Chennai at a cost of Rs 90 crore. This project is expected to be operational by March 2007.

The company is adding additional 129 guest room facility at the existing premises of Taj Krishna here, besides the construction of service apartments and additional car parking facility at an estimated cost of Rs 120 crore.

Further, the company proposes to undertake expansion by adding 150 guest rooms and renovate the hotel property at Taj Residency here at a cost of Rs 100 crore and convert the hotel into a deluxe property.

Taj GVK Hotels has also announced plans to set up a business hotel in the prime locality of Begumpet here, consisting of 189 rooms at a cost of Rs 70 crore, while is expected to be operational by 2008.

Q3 net doubles: The company has posted a growth of 68 per cent in income, 80 per cent in gross profit and 104 per cent in net profit for the third quarter of current fiscal ended December 2005.

As per the unaudited financial results taken on record by the board here, the company achieved a turnover of Rs 52.44 crore (Rs 31.15 crore), gross profit (PBDIT) of Rs 24.97 crore (Rs 13.87 crore) and a net profit of Rs 14 crore (Rs 6.86 crore).

More Stories on : New Projects

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
ONGC moots new corporate structure

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line